UpdateAsia benzene plunges on crude, follows overnight US dip

21 May 2010 05:37[Source: ICIS news]

SINGAPORE (ICIS news)--Asia’s benzene values fell by $45-50/tonne (€36-40/tonne) on Friday to hit a seven-month low on the back of falling crude futures and an overnight drop in the US benzene market, traders said.

Spot values were assessed at $790-805/tonne FOB (free on board) Korea, $45-50/tonne lower than Thursday’s close and a whopping $145-150/tonne lower than last Friday’s closing level, according to ICIS pricing.

The last time prices went below $800/tonne FOB Korea was on 4 November 2009.